Terraform Cloud offers an easy way to set up remote state management, allowing teams to store and manage their Terraform state files in the cloud. This eliminates the need for complicated setup and provides features such as automatic locking of states, audit logs, and a fully featured state viewer. With Terraform Cloud, users can sign up for a free account, create an organization or join one, generate a token, configure their backend, and run `terraform init` to start using remote state management. The service also includes manual locking capabilities, allowing users to lock and unlock states directly in the UI, and provides versions of Terraform state files, making it easier for teams to collaborate on infrastructure as code projects.